APPENDIX II 275
life have been most severely endangered by these
decrees.
2. Against the robbery of investors and for the better organi-
zation of credit:
(a) Regulation of banking business. Regulation of balance
sheets issued by banks and joint-stock companies.
Further regulation of the powers of directors of joint-
stock companies.
(b) State officials who have retired or are on the reserve-
list to be prohibited from joining the board of directors
of a joint-stock company.
(c) In order to remove credit and investment from the
control of the economic oligarchy, the Bank of France
must cease to be a private concern, and 'The Bank of
France' must become Trance's Bank.' The Council of
Regents of the Bank of France must be abolished: the
powers of the Governor of the Bank of France must be
increased, under the permanent control of a council
composed of representatives of Parliament, of the
executive authority, and of the main organized forces
of labour and of industrial, commercial and agri-
cultural activity. The capital of the Bank must be
converted into debentures, with measures to safeguard
the interests of small shareholders.
IV. Financial Purification.
1. Control of the trade in armaments, in conjunction with
the nationalization of armaments industries. Prevention of
waste in the civil and military departments.
2. Establishment of a War Pensions Fund.
3. Democratic reform of the system of taxation so as to relax
the fiscal burden blocking economic recovery, and raising
revenue by measures against large fortunes. Rapid steepening
of income tax on incomes above 75,000 francs a year; re-
organization of death duties; special taxes on monopoly profits,
but in such a way as to have no effects on retail prices. Mea-
sures against tax evasions, in connexion with transferable
('bearer') securities.